About your Search

20121202
20121210
STATION
CNBC 10
CNNW 10
MSNBCW 8
FBC 4
CNN 2
MSNBC 2
KGO (ABC) 1
KPIX (CBS) 1
KTVU (FOX) 1
WBAL (NBC) 1
WJLA 1
WJZ (CBS) 1
WMAR (ABC) 1
WRC 1
WUSA (CBS) 1
( more )
LANGUAGE
English 49
Search Results 0 to 48 of about 49 (some duplicates have been removed)
campaigned for re-election on the idea of a, quote, balanced approach, end quote, to deficit reduction, a mixture of tax increases and spending cuts. here's the plan that the republicans say you presented to them. >> i can tell you what i presented. it will be helpful. >> chris: let me -- >> it is our plan, let me do it. let me explain it. >> chris: i'd like to ask you about this part of it and you can tell me. >> okay. >> chris: $1.6 trillion in tax increases. more than $80 billion in new stimulus spending, next year, and, unspecified nonguaranteed spending cuts. question, is that your idea of balance. >> it is, let me explain what is in the explain they didn't report to you and explain, to people, which is, we propose alongside the trillion dollars in spending cuts we agreed with republicans, last year, on defense and a range of other government programs, proposed $600 billion of detailed reforms and savings, to our health care and other government programs, that is $600 billion. in fact, the health care savings in that plan, are larger than the plans we have seen republicans in the
% of the deficit. we have spend ourselves into a hole and we're not going to raise taxes, borrow money and get out of it. will i accept a tax increase as part of a deal to actually solve our problems? yes. but the president is negotiating with the wrong people. he needs to be negotiating with our bond holders in china. because if we don't put a creditable plan on this, on the discussion, ultimately, we all lose. >> you got your colleague debbie stabenow, on the your screen as well, can you say quickly what it is going to take? >> well, we got to quit playing the game, george, you can't continue to lie to the american people, there is no way to fix medicare under the guidelines of aarp that our tax dollars are now advertising to say not fix it. the way we can fix it is to control the cost. the way to control the cost is to have more individual participation. there's a lot of ways to do that. you can't play the game and hide. medicare and social security and medicaid if those aren't fixed if we're not honest about how to fix them and the fact, that, yes, everybody in this country will have to partic
chief of staff, erskine bowles, who chaired the first deficit reduction commission. they're concerned about the dangers ahead. so concerned that simpson took to the dance floor to urge young people to get involved. we'll also get the take of rising democratic star cory booker, the mayor of newark. what's his answer to the washington gridlock? and is he planning a run for governor against chris christie. for analysis, we'll turn to joe klein of "time" magazine. "washington post" columnist michael gerson and our own norah o'donnell and major garrett, our chief white house correspondent. it's all ahead on "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. >> schieffer: good morning again. well to the famous combos of modern life, from mac and cheese peanut butter and jelly rum and coke, bread and butter, and salt and pep pepper, add one more pair simpson-bowles. alan simpson may be in wyomingy and erskine bowles in north carolina but you can't mention one without think of the other. when you headed up the bipartisan deficit c
the deficit we have. the truth is, if you want to balance the budget, which i do, you have to have increased revenues and you have significant spending cuts. and you have said many times on this program that raising taxes on rich people is not enough to deal with the deficit. you are right. the truth is, the best thing we could do is go over the fiscal cliff. we have the same tax rates that we have when bill clinton was president. significant cuts in defense and also significant human services can you tell us. >> katie, let me ask you, before you respond to what governor dean is saying. there is logic to what howard dean is saying. i don't happen to agree with it. but i know where he's coming from. katie, let me ask you this -- katie can't hear me. we'll wait for her to get back hooked in. howard, what about the notion that i'm posing tonight -- i've said this a few times -- republicans better be careful. they're not going down your road and the democrats aren't going down your road. you have middle class tax cuts for the democrats and it sometimes sounds to me as an old reagan conservative
revenue to have meaningful deficit reduction. and unfortunately, the changes in the tax code, which the republicans say they want to turn to, will start increasing taxes and cutting tax deductions for the middle class americans. >> senator, can i stop you on that point? i think that's significant. what you just said is what the president has said, is that we can't get enough revenue to solve the problem unless the rates go up. but wait a minute. last summer, in july of 2011, this is what he said about how to get to $1.2 trillion in revenue. listen. >> what we said was, give us $1.2 trillion in additional revenues. which could be accomplished without hiking taxes -- tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions, and engaging in a tax reform process that could have lowered rates generally, while broadening the base. >> so if that was true then, senator, why can't he just do tax deductions? republicans say they would agree to that, and not focus so much on raising the top rates? >> david, we have set a target of cutting $4 trillion ou
. >> we are having the conversation because of the debt and deficit levels that the country is facing . someone on the democraticic side saying keep them and extend . republicans saying we have to cut somewhere. that's a real discussion. >> if i told you there was a program that cost you 30 billion and returned 18 billion to the economy and so had a net cost of 12 billion and supported 400,000 jobbings, you would say that is a good idea it is it not a matter of reducing the deficit because in congress we have people extending tax cuts that further blow a hole in the debt ceiling. >> i don't want to be cruel, christian. i don't want to be curt. every dollar comes back as a $1.90 a. forget about the stock market and investing and put our money in unemployment benefits. it is it resting on a complete fallacy of economics that conequals wealth. it is the same that pelosi and you. cash for clunkers and house stimulus . shovem ready stimulus jobbings. >> johnathon. why don't you listen to mark sand zandy of moody who advised john mccain's presidential anything. it is nothing to do with a pr
accomplish something. if you go back to before bush tax cuts, three quarters of the deficit is gone. it was supposed to sunset two years ago. when is a good time to let those things sunset? >> you're right, there's never a good time. >> maybe do something with the sequester, but let the tax cuts expire. >> although i have to say at this time it's too much i think in terms of the tax increase. >> we never want any pain. >> you're right. and we do need to get our fiscal house in order. but again, this is why the idea would be to come up with a longer term plan where you could scale some of these things in and you have to come up with a plan that you'll stick to, otherwise you get into this where -- >> we never stick to anything. if we get another deal that is toothless and -- >> the markets will become even more skeptical because we've seen this before. but i have to say two things. i don't necessarily buy into the deal that there's a fiscal slope. i have to say on the tax side, one of the things we keep talking about is the amt. boy, that's something that will -- >> howard goes on an
discussed for more than a year and a half on the campaign trail, $4 trillion of balanced deficit reduction. weight not a real proposal what is john boehner sent to the white house which actually lowered rates for those at the top but asked the middle class to bear the entire burden of deficit reduction. that's not what the american people voted for. i mean if you look at even cnn's exit polls all over this country, upwards of 60, 65% of people voted for balanced deficit reduction, which means asking those at the top to pay their fair share. more people voted for that, the idea of that, then they voted for the president. so we need to look to the american people and look what they want on how to reduce the deficit. we have to do it in a balanced way and fair way. >> but if you look at polling and i know you don't always just go on polling, right, but polling is also -- you ask people what should be cut, 79% say don't cut medicare at all and i think that lots of things, democrats and republicans have said, that is on the table too. you don't always necessarily follow the polls when you liste
of a process to reduce the deficit the others face. >> republicans don't like owning reform either. this was tom cole on sunday. >> only obama can fix entitlements. democrat versus democrat fight over entitlement which mirrors their fighting over taxes. a response to an argument that was starting before former adviser steve ratner and minnesota democratic congressman keith ellison with near glee. there is no real choice about that. we're clear social security is off the table. this is, to me, the much more interesting debate between tom and dan. >> you want republicans arguing. both sides are also battling for control of the debt ceiling which may represent the republicans' greatest point of leverage in these budget talks. goo the speaker of the house says that's a nonstarter. >> silliness. congress will never give up the power. i've made it clear to the president. we need cuts in reform greater than the increase in the debt limit. >> bottom line, you've got to put a detailed plan on the table that the white house ends up agreeing to some of it, rejects some of it in the same way t
income tax cuts. the republicans say the plan cuts the deficits by $4.6 trillion based on the white house method of counting based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it to the new year. >> he will not sign a bill that extends those tax rates for the top 2 percent. we cannot afford it. it is not wise economic policy. not wise fiscal policy. it would defeat the principle of balance that he has embraced. >> the president wrapped up an hour long twitter session promoting what he called a balanced approach, as far as deficit reduction. >>shepard: is this posturing? >>reporter: well, it is, this great measure. each side wants to blame the other. and not just if we go over the cliff, but if they do reach an agreement, each side wants the other to take the blame for the parts of the ultimate compromise their
democratic caucus. social security has not distributed to the deficit. it's just irresponsible to even put social security in a discussion as we are trying to get a deal. medicare can, i think, be massaged in terms of means testing. with the upper income individuals paying more or sometimes all of their medical expenses, it makes no sense for the government to pay medicare costs for someone earning $700,000 a year. so i think we can do some means testing. but by no means am i saying it should be low enough so our elderly and poorist americans are going to pay for the deficit. but we want a deal. and keep in mind, i think this is very important. if the bush tax cuts are expired, as they will be, just as sure as today is friday, they are gone, that generates $950 billion toward the deficit over a ten-year period. we'd set aside $1.2 trillion. we're almost there. and if you do means testing on medicare, we make it. >> well, the republicans would never go along with that kind of means testing because that would hit the wealthier americans. that's who they are going to protect. how would that w
overwhelming the deficit story was at that point. you know, you look at that administration. the coming in, just no one thought they could do anything. it's not unlike the conversations we're having now. and they went in, they did the deal, president bush had to shift from read my lips to as only he could put it, read my hips. and it was good for the country, it created a political dynamic that cost president bush the election in 1992, and which we're still living, because that gave us grover norquist, et cetera. >> let's get to grover norquist in a minute, but i do have a question. the gop plan consists of $2.2 trillion in savings over a decade. that includes raging the eligibility age for medicare from 65 to 67. and lowering cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue. but without raising taxes on the wealthy. in a letter to the president, leading republicans compared their plan to one erskine bowles drew up last year. >> not even close. >> he rejected that connection and the white house, of cou
that if we go over the cliff the deficit goes up. >> and the debt goes up. >> and the debt goes up. >> wrong. >> like our relationship people don't get it. >> deficit almost goes away. difference is about $8 trillion. >> about 10.5. >> join us tomorrow. right now it's time for "squawk on the street." >>> good wednesday morning. welcome to "squawk on the street." live at the nyse. what a morning shaping up here. a little data to look at. m&a. the president speaks to the business roundtable in a couple of hours. futures with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in
's on a deficit crusade. david walker, taxes ranger, next. toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. the latest coffee machine from nespresso. modular. intuitive. combines espresso and fresh milk. the new u. nespresso. what else? available at these fine retailers. who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, pos
not an issue here. social security didn't contribute to the deficits and debt. i don't think there will be any appetite whatsoever for touching social security. but those points i think democrats are quite unified on. the area where i think there is room for negotiation and compromise is, the rates are going to go up. i think we all recognize that. will the rates go up completely? are there other ways where they can come up somewhat short of that but make up the revenues by reducing deductions from higher income families? >> so the deal that we're talking about is halfway between the current rate and the former rate? >> well, i wouldn't say halfway. but i would say, as long as you can get to the revenues, if you can increase the rates and reduce the deductions for upper income households, you can get to the same dollar number and i think there's a willingness to entertain that. it does tend to complicate the tax code. the simplest way is simply to raise the tax rates up to the clinton levels and, you know, we do have a strong interest in simplifying the tax code. but if that's politically for
trillion dollar deficits for as far as the eye can see. washington has a spending3 problem, not a revenue problem. if the president does not agree with our proposal, i believe he has an obligation to families and small businesses to offer a plan of his own. we are ready and eager to talk to the president about such plan. >> you did speak with the president earlier this week, can you characterize that call. also, it has to be increases in rates for the wealthy or no deal. >> the phone call was pleasant, but more of the same. it is time for the president to be serious and come back with a counter offer. [inaudible question] >> the risk the president wants us to take, increasing tax rates will hit many small businesses that produce 60-70% of the new jobs in our country. that is the whole issue. [inaudible question] >> i think that is reckless talk. [inaudible question] >> listen, raising taxes on small businesses will not help our economy and will not help those seeking work. i came out the day after the election to put revenues on the table. to take a step towards the president to try to re
achieved, but not meaningful debt or deficit reduction, no reform to entitlements, and i don't think there's tax reform. there's a deal in form, but i think there's more to get done. >> are we done? >> ask another if you want. >> do they really have to raise taxes? people accepted that's the outcome. >> i think that they need to raise revenue. how they do it, whether it's some tax increases or some limiting of deductions, but it shouldn't be hard to bridge a gap that's wider and wider. >> a matter of what it looks like, a given at this point. >> i think it is. >> higher taxes are coming. doug, thank you. ask as many questions as you want. >> you're generous with your time. >> that's what dagen does when she's here. >> she would be huck -- heckling you for your bad voice today. the supposed middleman in the debt negotiations throwing fire on the talks this week by saying nothing will get done unless republicans agree to raise tax rates on the rich. >> there you go. rich edson in dc with the latest on that. hey, rich. >> congressional republicans say the latest fiscal cliff shrugged off the
for four years, i left unemployment high, i increased the size of the debt and the deficit, i got everything i wanted, the place is a mess and look, i got reelected. so, what's so hard about me continuing to doing that and blaming it on them. obviously, i'm very good at that and that's base clr where he's going here and the republicans i think are not very good poker players, they're signaled they're relucks tennant to go over the cliff. if you're in this showdown, i is a, come on, bring it. >> paul: they will get blamed if that happens and the president is signaling that. that wouldn't be a pleasant outcome for them. you're saying they should suggest to the president we had he' be willing to do that and maybe he'll give at the end? >> yeah, i think they have to show that they are it, that he's in a negotiation and that he has to give and that they're willing to give and if they just say, look, we're so afraid of getting blamed for that, of course, he's going to roll over them. >> kim, where do you think the republicans are? where should they go here? do they have real options, an
where you get a down payment in 2013 which brings the deficit to gdp ratio down from 7% down to 6%. if we could do that along with some long-term agreement we'll get another trillion out of entitlements or a trillion from taxes or somewhere else but a range of what we'll do in 2013 where we'll get the money for the rest of the sort of fiscal issues over the next few years but some down payment. we get the down payment and it's a reasonable downappointment not one that will crush the economy, i think the market could react very well to that. >> what's your opinion on what's going on in the economy ex-sandy? you were saying a better jobs number would show the economy is resilient. do you think it is resilient, if it doing, if you can take out the effects of the hurricane, better than people think? >> i think it's got so much potential. i see all the hesitancy here. but pent-up demand is forcing the housing market higher. pent-up demand is forcing the vehicle market higher. consumer finances are very much improved. people have locked in the 30-year, fixed-rate mortgages at a wonderfu
because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity, there was discussion, even as we battled over the budget, we worked together in a bipartisan way on many other issues. you didn't have the total polarization that you have today. >> i mean, when you were elected senate majority leader, i understand one of the first people that you called was the minority leader, senator dole. >> that's right. i called him right away, i went to see him almost immediately, and i said to him look, you've been here a long time, i'm relatively new, these are very tough jobs in the best of circumstances, and if we don't have some degree of trust between us, they will be impossible jobs. so i said to him i want to tell you how i intend to behave toward you and to ask that you behave towards me in the same way. and we agreed on the most basic of things. i told him i would not surprise him, that's important in the senate. that he would always ha
for a couple of years about tax rates, about entitlement spending, about deficits that have topped $1 trillion throughout the obama presidency. i suspect all of them eventually are going to get settled but they aren't going to get settled at the same time, including the debt limit increase. >> john harwood, thank you. >>> let's see where we do stand on the fiscal cliff deal. let's look at our "rise above" meter. time to stop talking and start actle. we were at a half-way point, now back to a quarter on the "rise above" meter, closing to no deal than deal. >>> lawmakers trying to solve the fiscal cliff issue. police trying to solve a burglary at the home of california congressman darrel issa. according to reports, more than 50 pieces of jewelry worth about $100,000 were stolen from the congressman's home on november 29th. watches, earrings, rings, bracelets involved and what issa spokesperson calls irreplaceable family air looms. >>> to the jobs report today. super storm sandy slammed the east coast but it looks like it didn't have all that much impact on the labor market. november jobs numbers
. and a $500 billion down payment on the deficit and the debt, i think, is actually a nice piece of certainty for business so that they can plan for 2013 and 2014. it will mean an exceedingly weak first quarter next year, but i think throughout the year economic growth will get stronger. david: well, but, michael, on the other hand, sometimes if i'm certain somebody's dead, that won't bring them back to life. sometimes certainty is not necessarily good news. you say that the market is rather than on the negative side rather than on the positive side, and if we do go over the fiscal cliff, you see possibility of negative figures as low as 4%, right? >> well, let's put all this in perspective. i think what i mentioned earlier was the fact that the s&p is up about 6% since november 16th, and we've run into technical resistance with some the previous people mentioned, and i think the market's just in a period now where it could easily pull back a little bit. if you listen to the rhetoric coming out of washington, we had the everybody gave your hugs after the election, now they're throwing out the
to deficit reduction that can help give businesses certainty and make sure the country grows. and unfortunately the speaker's proposal right now is still out of balance. he talks, for example, about $800 billion worth of revenues, but he says he's going to do that by lowering rates. when you look at math, it doesn't work. >> reporter: so unbalanced approach is the white house's nice way of saying you got to be kidding me. jay carney used the phrase in the briefing just now that the proposal from the republicans was a bunch of magic needs and fairy dust and the current standoff is continuing with neither side talking today, brooke. >> magic beans, fairy dust, la la land, it is laughable but not. it is serious stuff that affects every one of us come january 1st, 28 days to go. we know some of the reporting from dana bash on the hill, there are no formal talks going on. the president insists in speaking in this bloomberg interview, he does speak to speaker boehner all the time that the meetings are not what matter. what have you, jessica yellin what have you learned in your repo
is a deficit hawk. liberal, but he is a deficit hawk. he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six months down the line. that's in if first month, six weeks of the new year. >> the other thing, depending on where you stand, the idea that we just get rid
the business community views this deficit thing as the biggest problem that we can solve that we need to solve. there's something called a campaign to fix the debt, which i'm on the steering committee, 120 leading ceos from everything from general electric to jpmorgan on down. really committed to doing something and accepting the idea that revenues have to go up, not ideological about how, but most of all, wanting a big $4 trillion package. and so they have become, in effect, allies of the president. they're really trying to get to the same place. at some point there may be differences over how much entitlements, how much this or that, but right now their interests are aligned, and they both agreed to be friends again. and so they've spent a stream of business ceos into the white house. the president -- yesterday the business roundtable and gave a very warm and accommodating speech. and they are comrades in arms, the least for the time being. >> willie, what a big difference from what we heard from business leaders for the first four years. this is a pretty dramatic shift. >> or even just a fe
not represent the bowles simpson plan, nor is it the bowles plan in my testimony on deficit reduction. i simply took the mid point of the public offers, put forward during the negotiations to demonstrate where i thought a deal could be reached at the time. he's very much backing away from speaker boehner's letter. the question i wanted to ask you is some of the details, as you know, it's all in. >> can we spin one more point on that? >> absolutely. >> here's speaker boehner who is taking a mid point on the compromise between the two sides and offered it, and it's already flatley rejected? >> i think he may be rejected, sir, if i may -- >> i'm not talking about simpson -- erskine boelsz. i'm talking about the white house's response to it. >> let's get to that too. i think what erskine bowles is saying in his statement, that this letter from speaker boehner does not represent his theory, number one, but i think the line that the white house is having problems with, and i believe i found it in page two of the speaker's letter, i'll read it to you if i can. he says this, notably, the new revenue in
to the entitlement reform portion of this deficit reduction plan. that's politically very tricky, as you know, because a lot of times dealing with entitlements will be construed as cuts to medicare and that's often not very popular. as you can imagine that deal that you just outlined, not received very well by republicans on the hill. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. this offer doesn't remotely deal with entitlement reform in a way to save medicare and medicaid, and social security from imminent bankruptcy. the president's plan when it comes to entitlement reform is just quite frankly a joke so i don't think they're serious about finding a deal. >> so not really good language you're hearing soledad. house speaker john boehner said he found the proposal flabbergasting. he said it's not serious. but you definitely have the white house here and democrats feeling that they have some leverage. they look at polls that show americans are more prepared to blame republicans because of the impasse and also the fact that the consequence
deficit just by raising money from rich people. >> let's talk netflix. receiving wells notice from s.e.c., regulators warning they may bring civil action against the company and the ceo for violating public disclosure rules with a facebook post. back on july 3rd, the ceo posting netflix a monthly viewing exceeded 1 billion hours for the first time ever in june. the s.e.c. requires public companies to make the information public. hastings says he didn't believe the facebook post was material information although that day the stock was up 13%. in a letter yesterday, he also suggested the fact the post was assessable to more than 245,000 subscribers to the page makes it very public. you can choose to disclose information through other venues considered fair that may reach fewer people at the end of the day. >> ain't up to you. it's up to the government. >> rules are rules. >> and these things do need to evolve. there is little doubt about that. i remember when fd was put in. i would have conversations with executives and say you can tell me -- i'm on cnbc -- i will make it public. i'm n
, and of course hopefully reduce the deficit as well. very busy day there at the white house. on thursday, we have all our eyes on washington. two controversial changes in washington state, same-sex marriage becomes legal on thursday in washington state. we'll also be looking at marijuana. adults over 21 can legally carry up to an ounce of pot, sort of. the federal government still says pot is an illegal drug. that's how they're going to do it in washington on thursday. and on friday, we'll be watching for the jobs report. this is the november jobs report. in october, 171,000 jobs were add a added, you may recall. experts think superstorm sandy could affect this. a lot of people having a hard time getting around, power is out. really put a lot of folks behind. we'll see how that goes. on saturday, a big day for college football fans. heisman trophy winner will be announced. we'll find out who the best player in college football is. last year, can you remember who it is? nfl star robert griffin iii won the heisman. that's your week ahead. >>> well, his name was jordan davis, a 17-year-old boy who w
to be handed down the $60 trillion defic deficit. they will come to a deal. but right now, it's political theater. and it's probably going to look like the simpson-bowles. that will come full-circle again. >> here's a problem the republicans have got themselves into. is obama has been very clever here, the president. i think what he's done is skillfully said to the public, if he goes over the fiscal cliff, the republicans are prepared to make the entire middle class to pay more tax to save 2% of the wealthiest americans paying a little bit more. and that's a very bad position for the republicans to find themselves in, isn't it? >> it certainly is. it's a very bad position for them to find themselves in. the fact of the matter, it isn't true. raising taxes on the wealthiest americans will not only solve the problems. it doesn't even address the core problems. the core problems, $16 trillion in national debt comes from government overspending. and we have sluggish growth. raising the taxes on anybody, whether it's the poor or the middle class or the wealthiest americans, doesn't solve that
deficit reduction. too much spending cuts. when the private sector, when businesses and consumers are not spending, what we need is for government to be the spender of last resort. we don't want to go into major spending cuts. that's the austerity trap that europe has found itself in and it would be crazy for us to go in that direction. >> before we go, very quickly, yes or no. do we have a deal by the end of the year? >> yes. >> and what about you, doug? >> marginally, yes. 60/40 in favor of a deal but they've got to get moving. >> we'll have to see if it's another real deal or another kick of the can down the road or some other interim thing. thanks for being here. >>> outfront next, the u.s. military draws up new plans for a potential strike against syria as we learn more about that country's stockpile of chemical weapons. >>> plus -- the u.s. supreme court agrees to take on the issue of gay marriage. and is that a signal, is that a signal that for republicans, it may be time to reconsider its view on this? >>> and a nurse duped by a frank call sinking information about the duc
the clock. let's do it. the argument for cutting 65 and 67-year-olds out of a deficit talk is simple. it saves money. the keizer family foundation estimates that when it's all said and done, the government could save $5.7 billion. but those 65 and 66-year-olds don't disappear. they are still going to be here and get sick sometimes which means the savings we'd see by kicking them off they pop back up elsewhere in the economy. it's not pure savings, it's a cost shift. you're going to see increased costs for seniors who will have to find another health insurer since it uses power to pay less by quite a bit. the seniors turning to private insurance will have to pay more from the same coverage. 3.7 billion more in the first year of the policy. for those who are eligible for medicaid, will move to the states, we think. then there are the employers. many of the ineligible will turn to their employers. that will increase the health care costs of companies by $5.4 billion. some of the seniors will turn to the affordable care act in the insurance exchanges. those left in medicare will pay a hi
rates, total money that that comes in is just a small drop in the bucket so the size of the deficit from last year alone. it's less than 10% of what we're overspending. we now have 16 trillion in debt on the backs of our children and grand children. that is the biggest threat to our national security and nation's future. >> quickly, some republicans have whispered privately, some not privately, they believe president obama, the white house, congressional democrats, want to go over the fiscal cliff because they believe that it is more politically advantageous for them to do so. is that a sentiment you agree with or not? >> i believe that the president and the democrats see a political victory at the bottom of the fiscal cliff. i see financial problems for our country at the bottom of the fiscal cliff with unemployment over 9%, and another recession. i think -- i want to find a solution working with people on both sides of the aisle but when you have howard dean, the former chairman of the democratic national committee, you have patty murray, who ran the democratic senatorial committee enc
to pay for 8 days of running the federal government. that still leaves a trillion dollars deficit. get serious. former ways and means committee chairman congressman bill archer joins us tonight at 7:00 eastern. stuart: well, the tax on dividends is going to go up next year. maybe by 3.8%. maybe by a whole lot more. depending on the fiscal cliff. larry ellison, top guy at oracle, he had an early dividend payout. he got a check for almost 200 million dollars. he saves 56 million by not getting that money next year. liz? liz: yeah, this is true for a lot of companies. it's the insiders who own stock in the companies that are making these moves. the so-called 1%. you know it is within their rights to do it. but what bothers me are those who say we must pay our fair share, the executives who are for, you know, raising taxes, that we have to sacrifice, and then they are avoiding higher taxes in obama care, as you point out over the break, nothing to do with the fiscal cliff, it is with health reform that they are avoiding. david: and these are the same people, the people who say we should pa
republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff because they obviously will not ever say the word tax. they will only say revenue. i'm stuck speaking to many more ceos than grover norquist is. he thinks it's silly. he thinks ceos are silly. i
that actually reduces our deficit. i'm willing to work with anyone to put a plan on the table, but we're not willing to negotiate with someone who hasn't put a plan on the table. the president has not put a serious plan on the table. >> as far as a compromise on the marginal tax rate 35% going up let's say 36% or 37%, is that acceptable? >> no. no. because marginal tax rate increases if there is any increase in revenue, just gives them more to play with on capitol hill and more to spend. when we talk about fairness, when the top 2%, the $250,000 and above are already paying 45% of total income tax, that's a big question of fairness there too. >> who should nicki haley name to replace you? >> i talk today her today. i share the same philosophy, the conservative philosophy. i told her i trust her decision and i'm not going to push her one way or another. >> a lot of speculation, congressman scott? >> he's a wonderful person. our whole delegation is really strong. she's got a tough choice, but i'm convinced she'll give me someone as good or better than i am i can pass the torch to. and i
was on this morning, whom i have great respect for, he had the piece from the imf study when you cut the deficit by 1%, what is the impact on the gdp. they didn't get into that this morning but if his numbers he's using 0.9 to 1.4, if you lose 2% to 3% of gdp you'll go to negative growth which will impact -- >> at the very least the wheels will be on the runway. >> absolutely. >> let's switch gears, mario draghi today, listen, i was so wrong and i don't know how long it will last but i give him credit, at least for this period of time, how long it lasts because there is no growth and recession in europe i can't answer but what were your observations on that press conference? >> last night when i wrote about it, mario draghi can put his feet up and have a stella and enjoy. he bought himself time. july 6th will be mario draghi's day of celebration because he stemmed the financial crisis in europe and bought time. berlusconi comes onto the scene this morning with the politics and italian debt markets paid a price for it, it's coming back as we're talking, rallied back quite a bit in the ten-year bond fu
Search Results 0 to 48 of about 49 (some duplicates have been removed)